M&T Bank Co. (NYSE:MTB) Director Sells $396,000.00 in Stock

M&T Bank Co. (NYSE:MTB) Director Robert E. Sadler, Jr. sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $198.00, for a total value of $396,000.00. Following the completion of the sale, the director now owns 29,796 shares in the company, valued at approximately $5,899,608. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

M&T Bank Trading Down 1.2 %

MTB traded down $2.43 on Friday, reaching $192.25. 911,243 shares of the company’s stock were exchanged, compared to its average volume of 1,039,176. M&T Bank Co. has a twelve month low of $112.60 and a twelve month high of $200.94. The company’s 50 day moving average is $178.82 and its 200-day moving average is $162.20. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94. The company has a market cap of $32.08 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 2.80 and a beta of 0.75.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 2.81%. M&T Bank’s payout ratio is currently 39.97%.

Institutional Trading of M&T Bank

Hedge funds have recently made changes to their positions in the company. Hedeker Wealth LLC lifted its holdings in M&T Bank by 1.6% in the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock worth $627,000 after buying an additional 55 shares in the last quarter. Frank Rimerman Advisors LLC increased its position in shares of M&T Bank by 1.0% during the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock worth $1,005,000 after acquiring an additional 57 shares during the last quarter. Crestwood Advisors Group LLC lifted its stake in shares of M&T Bank by 1.9% in the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock worth $553,000 after acquiring an additional 57 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 68 shares during the last quarter. Finally, Meitav Investment House Ltd. grew its stake in M&T Bank by 3.1% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Royal Bank of Canada raised their price objective on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Wells Fargo & Company upped their price objective on M&T Bank from $165.00 to $190.00 and gave the company an “underweight” rating in a research report on Friday, October 18th. Piper Sandler increased their price objective on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Morgan Stanley lifted their price target on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Bank of America upped their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and an average target price of $198.76.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.